U.S. DISTRICT COURT GRANTS SUMMARY JUDGMENT TO CFTC IN FRAUD ACTION AGAINST FLORIDA RESIDENTS, Genady Spivack A.K.A. George Spivak, Ellison Kent Morris, AND World-Wide Currency Services, Corp.; defendants Ordered to Pay Over One Million Dollars in Restitution and Are Permanently Banned from Commodity Related Trading or Solicitation Fraud

CFTC release 4979-04 · 2004-08-19 · view on cftc.gov ↗

Key facts

Release number: 4979-04
Release date: 2004-08-19
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/4979-04

About CFTC enforcement

The CFTC charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and commodity-pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension. Crypto-asset cases have been a major share since 2019.